Reddit user is hired by a fraudulent crypto start-up, he tells his story

Reddit user is hired by a fraudulent crypto start-up, he tells his story

A Reddit user thought he had found his dream job, but he left the company after realizing that he was contributing to many of the problems facing the industry
• The start-up ecosystem has historically played a pivotal role in transforming the crypto community into a nearly $ 2 trillion industry. However, many projects in the industry overstate their promises or, at worst, deliberately lie.
In December 2021, Reddit user busterrulezzz thought he had found his dream job after being hired at a crypto start-up. However, he resigned only two months later, after realizing that he was only contributing to many of the problems facing the industry.
Reddit user u / busterrulezzz: Source: Reddit
On Reddit, busterrulezzz wrote:
“First, the level of disorganization and chaos was insane. Every morning we had a different goal, based on the latest market trend. ”
The user explained that the start-up in question, whose name he did not reveal due to a still active NDA, was doing everything the wrong way: offering services for NFTs without adequate infrastructure, or buying cryptocurrencies at an all-time high. solely on the basis of their popularity.
“One of our products no longer works because we hurriedly rolled out a bug fix patch? Let’s pretend it never happened and keep publishing promotional items instead! ”
Immediately after joining the team, the user realized that the company could not become profitable in any way – nor could it contribute constructively to the crypto ecosystem as a whole – given that “it could not even define goals and respect them. ”
More seriously, busterrulezzz says the start-up was knowingly misleading investors by using bots to manage channels on Telegram, faking the number of users on Discord, and partnering with influencers to make their products seem more popular than they are. were not actually:
“This kind of thing is what gives the cryptocurrency world its bad reputation.”
One of the biggest alarm bells was the fact that the founders were not interested in creating a quality product, but only in making as much money as possible:
“We were acting like an evil hedge fund, just the kind of institution that cryptocurrencies are supposed to fight.”
Feeling like a scammer, busterrulezzz left the company. Given the unpleasant experience, the user advised the community to join well-known and established crypto companies, and “not to waste time with little-known start-ups that have big dreams, but not the skills to make them happen. ”
He also highlighted the importance of carrying out adequate research on the company and its founders before accepting a job. However, it is also true that some of the largest companies in the crypto world have humble origins: an example is Binance, today the largest cryptocurrency exchange in the world in terms of trading volumes.
https://it.cointelegraph.com/news/crypto-startup-employee-quits-after-realizing-telltale-signs-of-failure
COMMENT: You need to know how to distinguish, many startups and consolidated companies in the cryptocurrency sector try to grab customers with more or less scam methods, starting from the fairy tale that the block-chain is safe and that many have gained from it and therefore you will earn too. As the article mentioned, the technique of cheating the saver was not born with cryptocurrencies, on the contrary this is only a technological evolution of well-known bad guys from the banking world and equity investments. To buy when you know that the value is increasing. But when you buy the value it collapses. It is the so-called Ponzi Effect.
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